$1trn economy: NACCIMA woos Chinese investors to boost industrialisation

By Yinka Kolawole

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has announced the third edition of its Business and Investment Forum in Guangzhou, China, as part of efforts to attract sustainable foreign direct investment (FDI) and support the Federal Government’s ambition of building a $1 trillion economy by 2030.

The forum, scheduled to hold on the sidelines of the 140th Canton Fair, one of the world’s largest trade exhibitions, is designed to connect Nigeria with leading Chinese investors, manufacturers, industrialists and business executives across strategic sectors.

Announcing the initiative, NACCIMA’s Public Relations Officer, Mrs. Madinat Adigun-Oladotun, said the forum aligns with President Bola Tinubu’s Renewed Hope Agenda and is aimed at positioning Nigeria as a preferred destination for investment, manufacturing and industrial development.

She stressed that Nigeria must move beyond being a consumption-driven economy to one anchored on value addition, local manufacturing and industrial growth.

According to her, “Nigeria has the population, natural resources, entrepreneurial spirit and strategic location to serve as the gateway to the African market. To become an economic powerhouse, we must deliberately accelerate industrialisation by prioritising local manufacturing, innovation, value-added processing and reducing our dependence on imports.” She added that achieving the country’s industrial aspirations would require increased investment, improved infrastructure, easier access to finance, advanced technology and stronger international partnerships.

Adigun-Oladotun said NACCIMA established the Guangzhou Business and Investment Forum to build long-term partnerships with credible Chinese investors willing to support Nigeria’s industrial transformation.

She noted that the previous two editions of the forum had strengthened collaboration with the China Chamber of International Commerce (CCOIC) Guangzhou, with the support of Nigeria’s Consul General in Guangzhou, Ambassador Mairo Musa Abbas.

According to her, the partnership is already opening investment opportunities in automobile and electric vehicle manufacturing, agribusiness, renewable energy, pharmaceuticals and industrial park development.

She called on federal, state and local governments, as well as private sector stakeholders, to participate in the trade mission to attract quality investments, promote technology transfer, deepen local manufacturing and create sustainable jobs.

Describing Guangzhou as one of the world’s foremost manufacturing and commercial hubs, she urged Nigerian businesses to leverage the platform to establish strategic partnerships capable of accelerating Nigeria’s industrialisation and economic growth.

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